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September 2012

A. P. (DIR Series) Circular No. 132 dated 8th June, 2012 Money Transfer Service Scheme

By Gaurang Gandhi, Chartered Accountant
Reading Time 1 mins
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Presently, a single individual beneficiary can receive for personal use upto 12 remittances not exceeding US $ 2,500 each in a calendar year.

This circular has increased the number of remittances that an individual can receive from 12 to 30. Thus, an individual can now receive for personal use upto 30 remittances each not exceeding $ 2,500 in a calendar year.

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